Kumulus Vape reveals declining revenue in the first half of 2025

Kumulus Vape announced consolidated revenue of €27.8 million for the first half of 2025, down 7.6% year-on-year. This decline was driven by a challenging economic environment marked by inflation and a decline in household purchasing power. B2B revenue declined 4.3%, while B2C activity fell 7%. The store network experienced a drastic decline, following a strategy of converting branches into franchises.

Faced with these challenges, the group has revised its annual target, now between €58 and €60 million. Kumulus Vape is banking on its franchising strategy and expanding its offering to boost its growth. Despite a challenging environment, the company is approaching the second half of the year with confidence, asserting its solid position in the market.